How to be invested in Crypto while staying away from gambling?

[ThePatient]

I've been around the crypto scene since pre 2013 pump. Been around blackcoin pumps, pinkcoin pumps (all the color coin pumps), all the country-coin pumps (remember those?), every shitcoin known to man.

I even knew about ethereum (commented on page 4 or 5 on their announcement thread) and was a huge believer in the project. .....but instead of sending btc to their ICO site on a summer day in 2014, I sent it to nitrogen sports with the intention of making more btc to send to their ICO.

Throughout the years, I've done similar things with various alts: Monero, dark-coin (DASH), Cardano, you name it. I had them with hopes of holding onto them to watch their value grow...but couldn't...and gambled it away with 3AM challenger tennis, random soccer matches, or baseball over/unders (though, when I go on a binge, I actually start off pretty damn well, but get tilted the moment I lose a few times).


I'm a big believer in the crypto space but it's difficult for me to hold coins without gambling. The thing is, I have no issue controlling myself when I don't hold crypto. I could go to a casino or wherever and not have any urge to bet with fiat. Idk what it is about cryptocurrency. I just get so into certain coins that I want to make more so that I can get a bigger stack to hodl...but then by trying to get more the quick way, I lose it all.


Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

[Jawhead999]

Your problem is self-controlling, you should controlling yourself, not be greedy and separate your crypto. I usually separating my crypto 20% for gambling and 80% for investing. If I lost all my crypto in gambling, at least I still have 80% to hold. Only gamble what you can afford to lose.

[Ziskinberg]

That is really up to you man, you are in control of what you do so you need to have the discipline and focus on your goal.

So your question is on how to invest without gambling, it's very simple, just be a long term investor so you don't need to monitor all the time and that would take you away from the temptation of gambling.

What coin I can suggest?? I suggest go with the best coin in the market, it's bitcoin, even if you don't pay attention to this coin, I believe this will rise in value as it's the king of the market now, everything depends on the future of bitcoin.

Hold it in a secure wallet, and there you go.

[Wexnident]

Trading in of itself is a form of gamble imo, but it's more similar to an educated guess and not something fully reliant on luck. So really, no matter the option of whether to trade or to gamble, you'd still be losing money one way or another. The best way to be invested in Crypto is just to be there for the knowledge, be part of the community. Stop looking at crypto as an asset, as a form of currency. Look at it as something similar to a lesson or something. It really depends on how you live out your life in the time you're investing in while being part of the crypto community.

This is more of a self-control problem just like what the one above me said. It's different from one person to another tbh. If you want, you can try setting a goal. One that uses cryptocurrencies as a form of payment. What I've been doing and so far have been pretty much avoiding any major losses in my life.

[ThePatient]

Hm, yeah, the last two posts are good advice.  I think it would definitely be easier if I didn't follow the whole crypto space as much. Maybe that can be a goal. Limit the amont of times I check the price or forums or whatnot.

[rhomelmabini]

How do you combat the urge to gamble with your cryptocurrency?

Telling myself that it's an easy way to win big while gambling but the opposite of it is the one I can't fathom if really those coins are meant for investment for a longer time. Sad to hear your story but I guess that will be an eye-opener on you for many years passed now. Has there changes in your recent behavior?

[netdumps]

don't be too obsessed with it... diversify not only your assets but your interests also... start a new hobby for example

[Darker45]

I've somehow experienced that, especially that over/under betting which is really, in hindsight, nothing more than a dice game.

Gambling is one of the quickest ways to lose money. That is why I always make sure that my online crypto gambling accounts have a low balance because once I am already absorbed into placing bets, it would be as if 0.1 ETH is as low as a dollar. It is easy to squander money if it is denominated in ETH or LTC or DOGE. At least with a low balance, you will be prompted that your bet is not possible anymore because your balance is not enough. It is also very effective once that irrational urge to recover your loss as quickly as possible comes in.

Plus, always make sure your main crypto investment is separated in a different wallet which is not as accessible as your dispensable cryptos.

[ThePatient]

How do you combat the urge to gamble with your cryptocurrency?

Telling myself that it's an easy way to win big while gambling but the opposite of it is the one I can't fathom if really those coins are meant for investment for a longer time. Sad to hear your story but I guess that will be an eye-opener on you for many years passed now. Has there changes in your recent behavior?

I've had some good years and some bad years since 2013. Most recently relapsed last fall though.

Thinking about picking up some coins lately, but I gotta figure out a way to not become so consumed by the whole scene. It's addictive in general.

[ThePatient]

I've somehow experienced that, especially that over/under betting which is really, in hindsight, nothing more than a dice game.

Gambling is one of the quickest ways to lose money. That is why I always make sure that my online crypto gambling accounts have a low balance because once I am already absorbed into placing bets, it would be as if 0.1 ETH is as low as a dollar. It is easy to squander money if it is denominated in ETH or LTC or DOGE. At least with a low balance, you will be prompted that your bet is not possible anymore because your balance is not enough. It is also very effective once that irrational urge to recover your loss as quickly as possible comes in.

Plus, always make sure your main crypto investment is separated in a different wallet which is not as accessible as your dispensable cryptos.

Very true, man, very true. It's like, shit what's .1 btc? That like 50 bucks? Oh wait, this isn't the mid 2010s anymore, that's almost a grand. I think that's why I have zero issues with gambling fiat. Cus then I would really see $1,000 slipping away in an instant and i would stop.

[Reatim]

Your problem is self-controlling, you should controlling yourself, not be greedy and separate your crypto. I usually separating my crypto 20% for gambling and 80% for investing. If I lost all my crypto in gambling, at least I still have 80% to hold. Only gamble what you can afford to lose.

actually we have almost the same style mate,whenever i am in mood to gamble i usually make at least part of my crypto income weekly(since i am part of signature campaign so it is easy for me to allocate gambling money)

i make sure to set aside the 70% and just to gamble the 30% and after losing i will surely stop because i have a manageable attitude in terms of gambling.

in this way i know that i am safer in any cases that what OP is being problematic now,and right it is the GREED that will always make us fall.

[JanpriX]

Quick suggestion, why don't you invest your money to those gambling sites instead? Like for example, putting your crypto to Yolodice or Bustadice and let it grow passively. Just be sure that you know the risks that you are getting when doing business with them. You can take a loot at this thread where someone invested BTC on two sites and he publicly provided the records of his profit/losses on a weekly basis. Good stuff, if I'm gonna be honest. 

Code: (LINKS)

https://yolodice.com/#invest
https://bustadice.com/invest
https://bitcointalk.org/index.php?topic=5239794.0

[peter0425]

Actually you can relate in this topic mate https://bitcointalk.org/index.php?topic=5233200.0

when OP is comparing trading in gambling in which instead of gambling why not risk your money in trading/
but of course this is depend on your desire because maybe you love Gambling more than any profiteering here thats why you encountered this problem.

Quick suggestion, why don't you invest your money to those gambling sites instead? Like for example, putting your crypto to Yolodice or Bustadice and let it grow passively. Just be sure that you know the risks that you are getting when doing business with them. You can take a loot at this thread where someone invested BTC on two sites and he publicly provided the records of his profit/losses on a weekly basis. Good stuff, if I'm gonna be honest. 

Code: (LINKS)

https://yolodice.com/#invest
https://bustadice.com/invest
https://bitcointalk.org/index.php?topic=5239794.0

i think Cryptogames.net is offering investments also?

[Latviand]

if you can't control yourself, you'd better stay away from gambling

Gambling is never a good thing if u want a safer investment and source of profits, instead focus on crypto management and it will give you more effective transactions and profits. Investing in gambling will just make you lose your money because it is much risky compared to investing in cryptocurrency.

I know a lot of people who are losing huge amount of money in gambling and become stressed about their life. Gambling will just only give you stress and disappointments because the probability of losing is much higher compared to the probability of winning. You need luck in order for you to win in gambling.

While in investment, you will just need to read and observe how the market moves so that you know what to do in order to properly manipulate your crypto assets. It is not necessary for you to risk your money in gambling, If I were you, i will not engage in gambling no matter what.

[Tipstar]

Actually you can relate in this topic mate https://bitcointalk.org/index.php?topic=5233200.0

when OP is comparing trading in gambling in which instead of gambling why not risk your money in trading/
but of course this is depend on your desire because maybe you love Gambling more than any profiteering here thats why you encountered this problem.

Quick suggestion, why don't you invest your money to those gambling sites instead? Like for example, putting your crypto to Yolodice or Bustadice and let it grow passively. Just be sure that you know the risks that you are getting when doing business with them. You can take a loot at this thread where someone invested BTC on two sites and he publicly provided the records of his profit/losses on a weekly basis. Good stuff, if I'm gonna be honest.  

Code: (LINKS)

https://yolodice.com/#invest
https://bustadice.com/invest
https://bitcointalk.org/index.php?topic=5239794.0

i think Cryptogames.net is offering investments also?

As of now Cryptogames has stopped offering investments to users. Currently yolodice is taking in BTC, LTC and Doge investment without any dilution fee which would soon change. They are also still to open ETH for investment. Bustabit is the largest user invested casino followed by bustadice. Justdice also offers investment on its supported currency, clam.

And not to forget bitvest. It allows an investment with BTC, ETH, LTC, BCH and Doge with 0.5 to x10 margin. The only investment option that lets you inflate your risk for reward.

[Debonaire217]

if you can't control yourself, you'd better stay away from gambling

Perhaps, you need a financial advisor or someone who is an expert on controlling themselves and making decisions. A wife I can say, they know what's best for us and they know when to stop us from gambling so we better build trust and not worry about losing too much in gambling if we invested first in good relationship. This relationship will be our counter to being addicted and losing too much. So if you can't control yourself, avoiding gambling is not always the option.

[swogerino]

I used to do the same up to a certain point and then stopped.I started to think calmly and deeply of what I was doing and came to the conclusion you can’t make more money with gambling in 99.99% of the cases.

I decided to set aside a small monthly bankroll to gamble with and the other amount to keep in a wallet.Dreams of one day that bitcoin will reach 100.000 dollars can keep you from not gambling at all.I only missed this April where I played slots heavily but have again stopped now.In the end it depends only on you and no one else.If you truly want something you fight to get it.

[shoreno]

you dont have a crypto so its normal that you will play fiat on a non crypto based casino  if ever its one of your hobby too  but you can still use that fiat money to buy crypto and repeat the same mistake again   . i bet your just greedy and that leads you to have a lack of patience    .  that experience was horrible upon reading it even not experiencing it  because the money that is supposed to be intented for hodling are being used for gambling  . it will be okay if you win but greed might take place again on you and you will just redepo it

[plvbob0070]

It's because of our desire. Maybe it's because you have seen a lot of crypto holders that also gamble so it attracts you as well to try gambling. And it only takes time before you will realize that you are having fun gambling and you want to keep on gambling. Perhaps that's the reason why you can't avoid gambling now. It's because you were used to it already.

I also think our mindset really affects us. If we keep on thinking that we can't stop gambling, then it will only make it harder for us to limit ourselves. We really need to control ourselves, especially in gambling. I also gamble online, and that's where I only gamble. I don't go to physical casinos but I can still control myself maybe because I always think of my priority why I am investing here in crypto. You can find other things to do to prevent yourself from gambling too much, or just seek advice on expert.

[jossiel]

Thank you for sharing that story. I always long to read stories like this so that I can learn from your experiences. You are struggling whenever you hold crypto but not with fiat. I think what you need to do is to take a deep sigh first of realization. And then, practice to minimize your crypto gambling activity.

Not stopping but somehow controlling it if you're gambling with crypto. Set aside the feeling whenever you hold it and also keep a certain amount that you will never engage in gambling because the agenda of keeping it is for investment purposes.

if you can't control yourself, you'd better stay away from gambling

The control issue is with crypto but with fiat, he can handle himself. That's hard to imagine that you can somehow control the other way and can't the other side.